Apple’s Latest Announcement Reshapes Financial Landscape with Enhanced Wallet App Features in the UK
In a move that’s set to redefine the financial landscape, Apple has announced that iOS 17.1 now comes with updated functionalities for the Wallet app in the UK. These changes enable users to seamlessly view account balances and full transaction histories for select bank cards and credit cards.
Originally introduced in October as part of Apple’s Connected Cards feature, this capability was initially limited to only a few banks. However, recent developments have expanded the list of supported institutions, opening up more opportunities for UK card users.
The official updated support document from Apple reveals that several major banks in the UK now support the account balance and transaction history viewing feature. These banks include industry giants like Barclays, Barclaycard, First Direct, Halifax, HSBC, Lloyds, M&S Bank, Monzo Bank, NatWest Bank, and Royal Bank of Scotland. This has been made possible through the integration of these banks with Apple’s Open Banking API.
The integration leverages Apple’s Open Banking API, establishing a direct connection between these financial institutions and the Wallet app. According to reports, this allows users to consolidate their financial information effortlessly, setting the stage for a unified and convenient hub for monitoring account activities.
While the new feature is currently exclusive to UK residents, there are promising signs of a global rollout. The code within iOS 17.1 hints at the potential expansion of this feature to the United States. US-based users have already caught a glimpse of this option within the Apple Wallet, indicating a potential broader release in the future.
In summary, the roster of UK banks that can take advantage of the new feature includes Barclays, Barclaycard, First Direct, Halifax, HSBC, Lloyds, M&S Bank, Monzo Bank, NatWest Bank, and Royal Bank of Scotland. However, it is anticipated that a separate update for US consumers will be rolled out in the near future.
Users who can’t view the account balance and transactions in the Wallet app may be experiencing an incompatibility issue with the card issuer. Apple is expected to revamp bank support to cater to the needs of the people, and the compatibility is also expected to broaden over time.
In other news, the EU’s highest court advisor has issued a recommendation for Apple in line with the tax battle. The official urged the tech titan to reevaluate the 13 billion euro payment and set aside the tax ruling.
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